Many new policies will go into effect on March 1st, affecting people at all levels. These changes include new social media policies, LPG cylinder pricing, railway schedules, and much more.
LPG and CNG Might Get Expensive: The prices of LPG and CNG are fixed at the beginning of every month; however, there were no changes in the price of LPG last month. Thus, it is expected that Indian Oil Corporation (IOC) may take a decision to increase the prices of LPG and CNG in March.
Changes in Train Timetable: Speculations are rife that the Indian Railways may revise its timetable in the wake of summer. If media reports are to be believed, the timetable of thousands of passenger trains and 5,000 goods trains might be revised from March 1.
Expensive Bank Loans: Bank loans are expected to get expensive from tomorrow as several private and public lenders have raised the MCLR rate following the hike in repo rate by the Reserve Bank of India (RBI). Earlier this year, the RBI hiked the key benchmark policy rate by 25 basis points to 6.5 percent to rein in retail inflation. Thus, home loan and auto loan EMIs may add to the burden of the common man starting March 1.
Bank Holidays: Public and private banking operations will remain affected for 12 days in March 2023. As per the Reserve Bank of India's holiday list, the banks will observe holidays on the second and fourth Saturdays, i.e., March 11 and 25. Besides, the RBI calendar showed there are six bank holidays next month, apart from the four Sundays that fall on March 5,12,19, and 26.
New Social Media Policy: The centre recently has altered the IT rules; thus, Twitter, Facebook, Youtube, and Social media giants will have to abide by the new rules of India. Contentious posts may also result in fines for users.